City of Milwaukee - File #: 031676

• File #: 031676
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 3/19/2004
• In control: FINANCE & PERSONNEL COMMITTEE
• Final action: 4/13/2004
• Title: Substitute resolution authorizing the issuance and sale of short-term general obligation promissory notes under sec. 67.12(12), Stats. for funding the City's matching share of a Wisconsin Department of Transportation streetscape enhancement grant for Kinnickinnic Avenue between Becher and Morgan in the amount not to exceed $103,330. (Comptroller)
• Sponsors: THE CHAIR
• Indexes: MUNICIPAL BORROWING, PROMISSORY NOTES, STREET IMPROVEMENTS, WISCONSIN DEPARTMENT OF TRANSPORTATION

Date	Ver.	Action By	Action	Result	Tally
3/4/2014	1	COMMON COUNCIL	SIGNED
1/22/2014	1	COMMON COUNCIL	DRAFT SUBMITTED
1/13/2014	0	JUDICIARY & LEGISLATION COMMITTEE	HEARING NOTICES SENT
4/13/2004	1	COMMON COUNCIL	ADOPTED	Pass	14:0
3/31/2004	1	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	5:0
3/22/2004	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
3/19/2004	0	COMMON COUNCIL	ASSIGNED TO

Number
031676

Version
Substitute 1

Reference
991676, 031396

Sponsor
THE CHAIR

Title
Substitute resolution authorizing the issuance and sale of short-term general obligation promissory notes under sec. 67.12(12), Stats. for funding the City's matching share of a Wisconsin Department of Transportation streetscape enhancement grant for Kinnickinnic Avenue between Becher and Morgan in the amount not to exceed $103,330. (Comptroller)

Analysis

This resolution authorizes the issuance of short-term general obligation notes under sec. 67.12(12), Stats., for a public purpose, to-wit: funding the City's matching share of a Wisconsin Department of Transportation streetscape enhancement grant for Kinnickinnic Avenue between Becher and Morgan in the total amount of $1,231,650 of which 80% ($985,320) is grantor funding and 20% ($246,330) is City borrowed grantee funding. $143,000 of the $246,330 was issued pursuant to Resolution File Number 991676 adopted on 2/29/2000, which has now expired. This resolution reauthorizes the remaining $103,330.

Body

Whereas, The 2004 budget of the City of Milwaukee authorizes general obligation short-term borrowing under § 67.12(12) for a public purpose, to-wit: paying the City's share of the costs under Grant and Aid Projects; and

Whereas, The City of Milwaukee is desirous of issuing and selling short-term promissory notes for the purpose of paying its share of the Grant and Aid Project for a public purpose, to-wit: provide the City's "match" for the funding of a Wisconsin Department of Transportation streetscape enhancement grant for Kinnickinnic Avenue between Becher and Morgan in the total amount of $1,231,650 of which 80% ($985,320) is grantor funding and 20% ($246,330) is City borrowed grantee funding; and

Whereas, The City has previously issued $143,000 of notes towards its $246,330 share under Resolution File Number 991676 adopted on 2/29/2000; and

Whereas, The Common Council desires that ...